Help with the Black / white -- color pass

Recently jusy got Pro 1.5 , somewhat new to editing, know some of the basics but not much on Mattes and keying, anyways was trying to do the black white color pass from the topic earlie on this page, but when i get to the part of the tutorial to goto the transperancy setup i cant find it on Pro because the tutorial is from 1.5, and i need that setup to the image matte i think if I understand the tutorial right!